A game that will spoil you for years to come! Read me, you won't regret it, you may actually laugh.
Let me address some people that have posted that the graphics are outdated. Yes, they are if you are trying to play it on the Apple IIe or the Commodor 64. However, if you have a high-med to high-end machine, then this game is just gorgeous. The detail, textures, lighting, everything in this game is beautiful. The graphics are the best I have seen, and in my opinion, better than HL2... or at least, it runs faster than HL2.
The gameplay, man, they really nailed it down. One of the problem with RPG games is that they allow you to do so much, but there is a learning curve taht at times it becomes more of a pain to do things in the game than actually enjoying them. Oblivion seems to manage this very well, from the persuasion, to lock picking, to alchemy, etc. they are done in a way taht anybody can pick up and do it, but provide a level of strategy that makes them challenging.
The music is wonderful. I feel lik i'm watching a movie at times.
Well, I need to continue filling out my divorce papers because my wife will probably ask for them in few weeks after I have a been locked in the office playing the game. (To all women out there, this is a joke. ha ha....ha.)